Stock Picks and Trade Ideas for Thursday - Rambus, Level 3 Communications and Braskem
Chart courtesy of www.stockcharts.com ( click to enlarge )RMBS closed at 8.98. The next resistance is at 9.25 and 9.43 respectively. The technical chart continue to show a bullish bias. The MACD line is pointing up. RSI is also increasing and is now above the 50 level. +DI is above –DI . Another promising sign is the decline that started from 24 February occurred with diminishing volume. Could we potentially head higher this week ? I think so. Looking at the daily chart it appears that the RMBS is forming an inverted head and shoulders pattern with the Neckline at 9.43. This pattern is a bullish one so a rally could happen. Remember, we must follow-through and break the neckline.
Chart courtesy of www.stockcharts.com ( click to enlarge )LVLT shares are in a bearish phase and I have to say that the recent downtrend does not appear be complete. Reasonable expectations suggest to me that we might see stock drops to near its 52 week low at $0.57. Technicaly, the stock is still in very weak market as 200 day moving average is still declining and MACD is still below 0. All other indicators still point to a bear market.
Chart courtesy of www.stockcharts.com ( click to enlarge )BAK - Technically in the near term the stock is in a recovery mode. However since stock overall is still weak as the MACD is still below 0 and the stock is back near the 20-day moving average, wait on the sideline before making any investment decision.Go long at any close above the $4.32 area.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. See you tomorrow !!!
AC
That's All. See you tomorrow !!!
AC
